Course 102 - Introduction to the Income Approach
The Introduction to the Income Approach course is designed to provide students with an introductory understanding and working knowledge of the procedures and techniques required to estimate the market value of improved properties by the income approach. This course covers the market study of sales of income producing properties, analysis of income and expenses to estimate operating income, selection of capitalization rates, application of the approach, and review of appraisals submitted for tax appeals. Registrations must be received by Wednesday, December 30, 2020.
This course includes 15 hours of live classroom instruction during which students will be expected to participate in discussions and group activities and 15 hours of coursework that may include but is not limited to reading, homework problem solving, etc. There is also an exam at the end of the course for which the student should be prepared.
Successful completion of this course provides 30 hours toward certification/continuing education for class I or class II assessors (N.D.C.C. 57-02-01.1). Twenty-seven hours are allowed as continuing education for attending the course if the exam is not taken. In order to receive credit for certification purposes, the exam must be successfully completed.
The course will be online for two consecutive weeks starting Tuesday, January 5, 2021. More information regarding the schedule will be sent to students after registration.
Textbook and Supplies
A course book will be available via PDF and emailed upon completed registration for you to print. Supplies necessary for the course include a calculator, mechanical pencils, highlighters, and notepaper.
The IAAO textbook titled "Property Assessment Valuation" (PAV) is a good reference textbook to have for this course. The textbook can be purchased online at www.iaao.org or can be ordered for an additional $50 if indicated on the submitted registration form.
Students must have access to the following: a computer with a camera and microphone. Also, computer must have the most current version of Google Chrome, Firefox, or Safari, and Adobe Flash. If accessing from a mobile device, it must have a large screen.
Kevin Ternes, CAE, ND Certified General ND CG 2003. Kevin has 30 years of experience in assessment and appraisal of residential and commercial property that includes statistical analysis, model design, and calibration. Kevin earned the designation of Certified Assessment Evaluator from the International Association of Assessing Officers and is a Certified General Real Property Appraiser licensed by the state of North Dakota.